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Which key Congressional figure will be most vocal in support of crypto regulation by mid-2024?
5
Resolution / Starting Odds
Senator Cynthia Lummis • 25%
Senator Ted Cruz • 25%
Rep. Warren Davidson • 25%
Rep. Tom Emmer • 25%
Official Congressional records and news reports
Story
President Biden Vetoes Bill Backed by Eight Congressmen, One Senator to Allow Financial Firms to Custody Bitcoin
May 31, 2024, 11:03 PM
President Joe Biden has vetoed a bill that would have allowed highly regulated financial firms to custody Bitcoin and other cryptocurrencies. The bill, which had bipartisan support from eight Congressmen and one Senator, aimed to overturn the SEC's Staff Accounting Bulletin 121 (SAB 121), which imposes stringent guidelines on how financial institutions handle crypto assets. This decision has drawn criticism from various quarters, with some accusing Biden of being anti-crypto and siding with the SEC's restrictive stance. The veto has significant implications for the crypto industry, as it maintains the current regulatory hurdles for financial institutions looking to enter the crypto custody space.
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Similar markets
Support stronger crypto regulations • 25%
Support looser crypto regulations • 25%
Maintain current position • 25%
No clear stance or mixed signals • 25%
Yes • 50%
No • 50%
Increased bipartisan support for crypto regulations • 33%
Increased opposition to crypto regulations • 33%
No significant change in political stance on crypto regulations • 34%
Pass a new modified crypto regulation bill • 33%
No further action on crypto regulation • 33%
Reintroduce the same bill with minor amendments • 34%
Democratic Party • 33%
Republican Party • 33%
Both Parties • 34%
Introduce more crypto-friendly legislation • 33%
Increase regulatory scrutiny on cryptocurrencies • 33%
Maintain current stance without significant changes • 34%
Tighter Regulations • 25%
Looser Regulations • 25%
No Change • 25%
Ban • 25%
Ivanka Trump • 25%
Donald Trump Jr. • 25%
Mike Pence • 25%
Ron DeSantis • 25%